The city of Kamen transferred $27,000 into a Pension Trust Fund. Of this amount, $19,000 was contributed by the city with the remainder coming from the employees.
Required:
For fund-based financial statements, prepare the journal entry for this transaction including the fund type in which the entry would have been recorded.

Question

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The Answer of The city of Kamen transferred $27,000 into a Pension Trust Fund. Of this amount, $19,000 was contributed by the city with the remainder coming from the employees.
Required:
For fund-based financial statements, prepare the journal entry for this transaction including the fund type in which the entry would have been recorded.

The City of Kamen Transferred $27,000 into a Pension Trust